![]() Wolt represents an ideal foundation and leadership team to carry forward DoorDash’s international efforts, while DoorDash’s platform, leading growth and scale in the US, and cultural alignment with Wolt make them a perfect partner in an industry increasingly operated at global scale. We believe that there will be significant value creation ahead as the Wolt and DoorDash teams come together to become the global leader in local, on-demand delivery. Today, we celebrate the next chapter of Wolt’s journey as it joins forces with DoorDash, a technology company that connects consumers with their favorite local and national businesses and a company whose culture and values resonate strongly with the Wolt team. Wolt grew from 14 to 23 countries, including launches in Japan and Germany saw accelerated market adoption during the pandemic launched grocery delivery and scaled the team to over 4,000 employees, all while growing explosively to become a regional leader. And as Wolt grew, so did our partnership, with ICONIQ Growth participating meaningfully in the Series D and then leading the Series E late last year. It is hard to overstate how much the company has transformed since then. Once there, we found a team that was every bit as extraordinary as the CEO. We were very fortunate to shortly thereafter lead the Company’s Series C and to join what was becoming a remarkable journey. After the very first call we were so impressed by Miki’s articulation of the Wolt vision and by the company’s truly exceptional execution, that we flew the next day to Finland. In early 2019 we were first introduced to Miki Kuusi, co-founder and CEO of Wolt, the rapidly growing food delivery leader, based in Helsinki. It’s been a true privilege.ĭoorDash and Wolt share a powerful vision and values, and we have no doubt this milestone is only the start of their journey to build a significant international business that combines the very best of what has made both of these companies so consequential around the world.Ĭc: Ritika Pai, Yoonkee Sull, Will Griffith Thank you for the incredibly fulfilling partnership. We feel equally fortunate to have worked with the board and investors, including Petteri Koponen, Johan Svanstrom, Hjalmar Winbladh Laurel Bowden, Arnon Dinur, Irena Goldenberg, Ilkka Paananen, Lars Jörnow, Kirk Lepke and Stephen Shanley and their teams. We have tremendous respect for Miki Kuusi, Riku Mäkelä, Marianne Vikkula, Riikka Tieaho, Kris Beyens, and the rest of the team and the positive impact they’ve had on their employees, investors, communities, and the broader Nordic and European technology ecosystem. Wolt’s success is very much a reflection of its leadership. These are leaders who care enormously about their teams and about doing the right thing as they have moved assertively and fearlessly to pursue their ambitious vision. When we first met the leadership team, we were struck by their serious operational and strategic chops but also their youthful positivity. Wolt is justifiably commended for its innovation, its strong execution, and for its enormously positive culture.Īs impressive as Wolt’s accomplishments have been, we are even more impressed with how the Wolt team has achieved them. Seven years later, the company now is a global leader and operates in 23 countries with 6,000+ employees across Europe, Israel, and Japan. In 2015, Wolt launched with 10 restaurants in Helsinki, a small and challenging market in which to build a sustainable and scaled consumer business. In every way, we believe Wolt embodies this mission and what inspires us in our business. ICONIQ Growth goal since inception is to partner with category defining companies and exceptional leaders who drive global impact and change. As Wolt now enters its next chapter as the international arm of DoorDash, we reflect with admiration on what this special team and company have accomplished.
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